Precision Estimating Services is dedicated to providing Accuracy, Clarity, and Transparency through our construction takeoff services and construction estimating services.

Precision Estimating is a consulting firm specializing in construction estimating services and construction takeoff services. We strive to add maximum value to design professionals, builders, and government agencies. Our extensive experience, outstanding customer service, and clear, concise reporting help our clients turn their dreams into reality.

Services

Our construction takeoff and estimating services provide the solid foundation our clients need to plan for success.

Our goal at Precision is to help our clients develop a clear understanding of the costs and risks associated with their projects so they can better plan for success. We focus on two specific elements in construction planning: Construction Takeoff Services and Construction Estimating Services.

Takeoff

A construction takeoff is the detailed measurement of materials and labor needed to complete a construction project.

Estimate

A construction estimate includes all identifiable component values.

Portfolio

Integration Tower - Cape Canaveral, FL

Aerospace & Transportation

Project

Modification of an existing launch facility to accommodate loading of fuel and payloads onto rockets.

Services

  • Feasibility Study
  • Construction Estimating Services
  • Project Management

Client

Private Aerospace Firm

Portfolio

Hyperloop Test Track - Hawthorne, CA

Aerospace & Transportation

Project

The Hyperloop consisted of a mile-long vacuum chamber requiring internal track tolerances measured to within thousandths of an inch. The project is considered the second largest vacuum chamber in the world, second only to the Large Hadron Collider in Switzerland. The Hyperloop is an innovative new mode of transportation for quickly moving people and cargo at roughly the speed of sound using evacuated tubes / pipelines and vehicles that magnetically levitate over the track’s surface. Electric propulsion – which requires very little energy due to the reduced friction and air resistance - is used to accelerate the vehicles and maintain high speeds.

This futuristic infrastructure project posed numerous challenges to the engineering and construction staff. The specified tolerances were very unique within the construction industry, which required intense collaboration between Precision and the engineering team to create a design that was both functional and cost-effective to build. The test track also passed over a railroad spur, which required a draw-bridge capable of accommodating a passing train before being reset to within tolerance.

This uniquely challenging construction project required collaboration between all project team members. Design Professionals, Owner Representatives and Precision, the Cost Estimator worked together for almost a year before the final design was ready for construction. The final outcome was a highly successful project delivered within the intended budget and schedule.

Services

  • Statement of Probable Cost
  • Design Assistance
  • Target Value Engineering
  • Scheduling
  • Construction Cost Estimating
  • Constructability Reviews
  • Project Controls

Client

Subject to Non-Disclosure Agreement

Portfolio

Launch Facility - Undisclosed Location

Aerospace & Transportation

Project

Analysis of costs and feasibility related to development of a planned space launch facility.

Services

  • Feasibility Study
  • Target Value Engineering
  • Design Assistance
  • Bid Management

Client

Private Aerospace Firm

Portfolio

San Luis Obispo Museum of Art - San Luis Obispo, CA

commercial & industrial

Project

Precision provided a detailed and robust constructability review and cost budget study for the new 26,000 square foot, state-of-the-art, steel framed museum building to be constructed in the heart of downtown San Luis Obispo, CA. Our museum construction cost estimate package included an overall statement of probable cost for construction, as well as the projected operating costs for the museum. Noteworthy operating cost projections included water, natural gas, and power consumption metrics, as well as security and maintenance costs.

With regard to developing the museum’s construction budget, a key cost component of the project included a thorough water-less fire suppression system – this, of course, is within the architectural design to protect the various art displays. The seismic base isolation foundation system is also worth mentioning. This foundation system is especially important as this museum is being constructed within sixty miles of the San Andreas Transverse Fault Line – a component of the Pacific Rim of Fire.

Services

  • Construction Cost Estimating
  • Projected Operating Cost Estimating
  • Budgeting
  • Feasibility Study
  • Constructability Reviews

Client

SLO Museum of Art

Portfolio

Nipomo-Guadalupe Dunes Center - Guadalupe, CA

commercial & industrial

Project

Provided cost and value engineering services on a community center project. Meaningful project scopes included a new outdoor amphitheater, renovation of indoor basketball gymnasium, construction of new skate park, new ADA compliant mechanical lifts, installation of recreation fields, playground equipment, and exercise stations, as well as a new HVAC system throughout the ~10,000 sf complex.

Services

  • Preliminary Cost Estimate
  • Budgeting
  • Feasibility Study
  • Value Engineering

Client

Dunes Center

Portfolio

Ventura Harbor Village Public Plaza - Ventura, CA

commercial & industrial

Project

Provided construction cost estimating services at various stages of design, value engineering, and constructability review services for the complete remodel of the Ventura Harbor District’s bustling outdoor public plaza. This project included ADA compliance upgrades as well as a major aesthetic face lift. The plaza beautification included various art installations, colored concrete and tile mosaics, water features, built-in seating as well as additional hardscape improvements.

Services

  • Budgeting
  • Value Engineering
  • Construction Cost Estimating

Clients

Architect, Government Entity

Portfolio

California Commerce Center - San Fernando, CA

commercial & industrial

Project

Renovation and new construction of more than 500,000 sf warehouse and distribution center.

Services

  • Target Value Engineering

Client

Private Developer

Portfolio

Burbank Commerce Center - San Fernando, CA

commercial & industrial

Project

Renovation, subdivision and seismic retrofit of 125,000 sf industrial site.

Services

  • Project Planning
  • Budgeting
  • Value Engineering

Client

Private Developer

Portfolio

Deer Hill - Walnut Creek, CA

Residential, multi-family & hospitality

Project

Site improvements and vertical construction for a 74-home subdivision on 100+ acres.

Services

  • Project Planning
  • Budgeting
  • Target Value Engineering
  • Off-Site Improvement Investigation
  • Bid Management

Client

Owner, Developer, Government

Portfolio

Isola Bella Apartments - Oklahoma City, OK

Residential, multi-family & hospitality

Project

Renovation and conversion of a 50-acre, class C apartment property to 500 class A apartments and 350 corporate housing units with a 30,000 sf fitness center.

Services

  • Project Planning
  • Budgeting

Client

Private Developer

Portfolio

Rexford Townhomes - Beverly Hills, CA

Residential, multi-family & hospitality

Project

Subdivision and renovation of 4 historic townhomes blocks from Rodeo Drive.

Services

  • Project Planning
  • Budgeting
  • Contractor Selection

Client

Private Developer

Portfolio

Stoneyridge - Walnut Creek, CA

Residential, multi-family & hospitality

Project

Demolition of existing residence and construction of 21 new residential units.

Services

  • Budgeting
  • Feasibility
  • Construction Cost Estimating

Client

Private Developer

Portfolio

Venice Suites Hotel - Venice Beach, CA

Residential, multi-family & hospitality

Project

Renovation and conversion of 3 mixed-use properties totaling 50,000 sf into 165 extended-stay boutique hotel suites with restaurant, pool and ground floor retail.

Services

  • Financial Modeling
  • Project Planning
  • Budgeting

Client

Private Developer

Portfolio

Residence Inn by Marriott - Beverly Hills, CA

Residential, multi-family & hospitality

Project

Renovation and adaptive reuse of 7-story hospital building including re-engineering of structure.

Services

  • Project Planning
  • Target Value Engineering

Client

Private Developer

Portfolio

California Polytechnic Red Brick Halls Dormitory Renovation - San Luis Obispo, CA

Education & Multi-Family Residential

Project

Precision provided conceptual design, scoping, schematic cost estimates and constructability reviews to empower University Housing decision–makers. The cost estimates were used to analyze and execute a plan to either renovate or rebuild a complex of nine (9), mid-century dormitory buildings and administrative offices to meet current code requirements and maximize the existing building space. The key challenge was to modify the structures while adhering to the budget, without significantly reducing the University’s supply of on-campus housing during the construction period. This project required our team to conceptualize the redesign of the Cal Poly dormitory buildings based on site visits, interviews with University Housing staff, and as–built drawings from the 1950's. To generate our cost estimate report for this higher education project, Precision produced conceptual drawings of various renovation options, each with a statement of probable cost, while also providing a detailed feasibility study report.

Services

  • Feasibility Study
  • Construction Cost Estimates
  • Constructability Reviews
  • Statement of Probable Cost

Client

Cal Poly

Resources
Cost Engineering Blog

Online Resources

Economic Forecasts

State of the Construction Industry

Construction is a dynamic industry. In order to provide our clients with the best available information, we incorporate important industry trends such as material and labor cost forecasts into our construction cost estimates.

Industry Projections

ABOUT

Precision Estimating Services provides clarity and simplicity to a complex world.

The professionals at Precision Estimating Services combine a deep understanding of construction with powerful analytical tools to provide clients with the insights and understanding they need to successfully execute their projects.

Precision draws on a diverse staff that includes certified estimating professionals, takeoff technicians, and an administrative staff. All of our professional staff is experienced and college educated, with many holding additional certifications in their respective areas of expertise.

Erik Wright, LEED AP

Erik co-founded Precision Estimating Services to provide feasibility, risk and project planning services to a wide-ranging set of real estate owners, developers and financiers.

Jared Malapit, CEP

After becoming a Certified Estimating Professional through the Association for Advancement of Cost Engineering, Jared co-founded Precision Estimating Services alongside Erik Wright.

Karl Vaillancourt

Karl began consulting for developers, private equity firms and commercial banks to assess potential projects to identify and mitigate risks prior to construction. He then joined forces with Erik and Jared to form Precision Building Group.

Values

Courage1

It takes courage to stand up for what’s right. It takes courage to step into the unknown. Through hardship and success, we remain committed to the work at hand because progress cannot be made without pushing limits and taking chances.

2Humility

We know that we will not always get it right; that it is better to collaborate than to isolate; to seek truth even when that means admitting mistakes. We must always be humble enough to listen with an open mind and never allow our egos to prevent us from doing exceptional work.

Growth3

We strive for growth in our personal, family and community lives - not just as a measure of the company’s bottom line. We encourage each other and ourselves to learn and grow in ways that keep us inspired. It is through this growth that we will not only create a better company, but a better world.

4Sustainability

We are focused on creating work environments that promote every dimension of wellness – intellectual, physical, and psychological. We strive to minimize our environmental footprint by advocating for technologies and innovations that improve the health of our communities and our planet.

Erik graduated with honors from California Polytechnic State University (Cal Poly) in San Luis Obispo with a BS in Construction Management. After college, Erik worked as a site engineer for the construction of the World Cup Stadium in Port Elizabeth, South Africa. Later, Erik was recommended by his alma mater and then hired by the Catholic Diocese to provide owner representation services for the acquisition and development of 200 acres in Eastern Africa, which is now home to a university that serves over 1,000 students.

Upon returning to the states, Erik lectured at Cal Poly on development in third world countries and later was hired as the Vice President for Hilyard Concrete Construction, a prominent regional construction company. During his time at Hilyard Concrete, Erik completed large-scale infrastructure projects, most notably for the Army Corps of Engineers, SpaceX and Raytheon. In 2013, Erik co-founded Precision Estimating Services to provide feasibility, risk and project planning services to a wide-ranging set of real estate owners, developers and financiers.

Jared has been working in construction since the age of 12. He was born into a construction family and grew up working for general contractors in Hawaii. Jared graduated from Cal Poly with a BS in Landscape Architecture and leveraged his background and education to design and build sustainable solutions for homeowners and businesses on the central coast of California.

During the financial downturn, Jared joined Erik Wright at Hilyard Concrete Construction as a Project Manager and Lead Estimator. Jared and Erik worked side-by-side on large projects for the Army Corps of Engineers, SpaceX, Raytheon and others. After becoming a Certified Estimating Professional through the Association for the Advancement of Cost Engineering (AACE International), Jared co-founded Precision Estimating Services with Erik Wright.

Karl has been involved in real estate development, construction and finance since high school, where he interned for a prominent custom homebuilder in his hometown. He later moved on to work for commercial construction firms in college and eventually branched out into real estate finance and development.

After earning a BS in Architectural Engineering from the University of Colorado at Boulder, Karl spent several years underwriting CRE loans as well as CMBS and ABS transactions for a large financial institution. He then attended graduate school at Pepperdine University’s Graziadio School of Business and Management in Los Angeles where he earned an MBA and made the transition to development work. During his time in development, Karl oversaw entitlements, financing and project management for a large portfolio of commercial projects in the greater Los Angeles area and the Southwest.

Later, during the financial downturn that began in 2008, Karl put his combined knowledge of development, construction and finance to work for commercial lenders who were struggling to cope with the fallout in their construction and development loan portfolios. By early 2014, after handling the workout and disposition of a $500M portfolio of non-performing CRE loans, Karl began consulting for developers, private equity firms and commercial banks to assess potential projects in order to identify and mitigate risks prior to starting construction. He then joined forces with his friends at Precision Estimating Services to form Precision Building Group in 2015.